Bitcoin’s significant decline impacts market: Bitcoin’s price drop of $5,000 initiated massive sell-offs, causing 1.5 billion USD in trader liquidations. This mainly affected long positions, particularly in Ethereum with 204.7 million USD wiped out. Altcoins also suffered, as XRP, Dogecoin, and Solana faced steep drops.
Michael saylor’s strategic Bitcoin investment: Amid the chaos, Michael Saylor acquired 21,550 Bitcoins worth 2.1 billion USD, signaling confidence in Bitcoin’s long-term value. Meanwhile, a 3.85 billion USD influx into crypto investment products over the past week highlights continued faith in the crypto market’s potential.